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Section 3: The boundaries of the benefit zone are on the Balboa <br />Peninsula between A Street and Coronado Street, as set forth with greater <br />specificity in the map attached as Exhibit A and incorporated herein. <br />Section 4: The City Council intends to levy and impose and order <br />the collection of a benefit assessment upon persons conducting business in the <br />District. Such benefit assessment shall be as follows: <br />A. Banks and financial institutions that are exempt from City <br />business license regulations shall be assessed $125 for the shortened period. <br />B. Insurance agencies that are exempt from City business <br />license regulations shall be assessed $62.50 or the shortened period. <br />C. Persons operating one of the following types of <br />businesses as an independent contractor in an establishment owned by another <br />person shall be exempt from this assessment: <br />1. Hair stylists <br />2. Nail technicians <br />3. Real estate agents <br />D. The assessment for all other businesses within the <br />District shall be 25 percent of the annual business license tax as established <br />pursuant to Chapter 5.08 of the Municipal Code. <br />Section 5: The benefit assessments shall be collected by the City <br />in one installment, with collections for new businesses in the District on the day <br />of the issuance of a business license by the City. The assessment for new <br />businesses shall be pro -rated according to the number of full months remaining <br />in the District's shortened fiscal year. <br />Section 6: The penalty for delinquent payments shall be twenty <br />five percent per month, providing that the penalty to be added shall in no event <br />exceed one hundred percent of the assessment amount due. <br />Section 7: The improvements and activities to be funded by the <br />benefit assessments shall include only the following: <br />1. Marketing, advertising and public relations; <br />2. Brochure development and distribution; <br />